Jump to content
News Ticker

Search the Community

Showing results for tags 'banks and rti'.



More search options

  • Search By Tags

    Type tags separated by commas.
  • Search By Author

Content Type


Forums

  • Request for Community Support
  • Connect with Community
  • Learn about RTI
  • Website News & Support
  • Read RTI News & Stories
  • RTI Act Critics's RTI Act Critics Topics
  • Fans of RTI India's Fans of RTI India Topics
  • Insurance Consumer's Insurance Consumer Topics
  • Activists of Transparency and Accountability's Activists of Transparency and Accountability Topics
  • Issues with BWSSB's Issues with BWSSB Topics
  • Law+Order-Bangalore-32's Law+Order-Bangalore-32 Topics
  • Issues With Electricity Board's Issues With Electricity Board Topics
  • RTI Activists's RTI Activists Topics
  • YOGA's YOGA Topics
  • help each other's help each other Topics
  • forest and wild life's forest and wild life Topics
  • Indian Police Officials not following Cr.P.C.'s Indian Police Officials not following Cr.P.C. Topics
  • RTI Activist+Politics's RTI Activist+Politics Topics
  • hostels and lodging places's hostels and lodging places Topics
  • RTI Activists in Rajasthan.'s RTI Activists in Rajasthan. Topics
  • RTI info warriors in Haryana's RTI info warriors in Haryana Topics
  • DisABILITY Rights and RTI's DisABILITY Rights and RTI Topics
  • Govt Servant, Local Bodies or PSU Employees using RTI.'s Govt Servant, Local Bodies or PSU Employees using RTI. Topics
  • Eco club's Eco club Topics
  • Self Employment in Sport's Self Employment in Sport Topics
  • RTI related to land issue's RTI related to land issue Topics
  • Open SourceTechnology support to RTI's Open SourceTechnology support to RTI Topics
  • TRAP group's TRAP group Topics
  • Odisha RTI Activists's Odisha RTI Activists Topics
  • right to information activists's right to information activists Topics
  • Mumbai's Mumbai Topics
  • RTI ACTIVISTS FROM KARNATAKA's RTI ACTIVISTS FROM KARNATAKA Topics
  • Chartered Accountants's Chartered Accountants Topics
  • ngosamachar's ngosamachar Topics
  • Growing INDIA's Growing INDIA Topics
  • we are all friends.'s we are all friends. Topics
  • RTI for Government employees's RTI for Government employees Topics
  • Dhanus - Pending Salaries's Dhanus - Pending Salaries Topics
  • Insurance Surveyor & Loss Assessors's Insurance Surveyor & Loss Assessors Topics
  • Mahamumbai's Mahamumbai Topics
  • FREE LEGAL HELP AND SUGGESTIONS's FREE LEGAL HELP AND SUGGESTIONS Topics
  • M.Sc/MCA and ME/M.Tech's M.Sc/MCA and ME/M.Tech Topics
  • Corruption's Corruption Topics
  • ASSOCIATION FOR HUMAN RIGHTS & ENVIRONMENTAL PROTECTION's ASSOCIATION FOR HUMAN RIGHTS & ENVIRONMENTAL PROTECTION Topics
  • MAHARASHTRA- ADVOCATE/LAWYERS's MAHARASHTRA- ADVOCATE/LAWYERS Topics
  • INDIAN WOMEN- LAWYERS /ADVOCATES's INDIAN WOMEN- LAWYERS /ADVOCATES Topics
  • minority engineering colleges in maharashtra's minority engineering colleges in maharashtra Topics
  • AAKANKSHA's AAKANKSHA Topics
  • RTI AGAINST INDIAN AIR FORCE MALPRACTISE's RTI AGAINST INDIAN AIR FORCE MALPRACTISE Topics
  • RiGhTs's RiGhTs Topics
  • ram's ram Topics
  • JVG DUPED CUST.'s JVG DUPED CUST. Topics
  • anti corrupt police's anti corrupt police Topics
  • Save Girl in Punjab's Save Girl in Punjab Topics
  • Rent Apartment in US's Rent Apartment in US Topics
  • RTI Kerala's RTI Kerala Topics
  • maharashtra's maharashtra Topics
  • Right Way Of India(RTI)'s Right Way Of India(RTI) Topics
  • Whistle- Blowers against corrupt India's Whistle- Blowers against corrupt India Topics
  • Navi Mumbai's Navi Mumbai Topics
  • electricity curruption in up's electricity curruption in up Topics
  • SHARE n STOCKS trading's SHARE n STOCKS trading Topics
  • WEWANTJUSTICE's WEWANTJUSTICE Topics
  • Civil Engineers-CAD's Civil Engineers-CAD Topics
  • Nitin Aggarwal's Nitin Aggarwal Topics
  • MEWAT EDUCATION AWARENESS's MEWAT EDUCATION AWARENESS Topics
  • ex-serviceman activities's ex-serviceman activities Topics
  • SSCC's SSCC Topics
  • Remove Corrupt Bueraucrates's Remove Corrupt Bueraucrates Topics
  • jharkhand RTI activist group's jharkhand RTI activist group Topics
  • Suhail's Suhail Topics
  • govt.servant's govt.servant Topics
  • RTI Uttar pradesh's RTI Uttar pradesh Topics
  • anti-corruption team's anti-corruption team Topics
  • Manaism's Manaism Topics
  • Insurance's Insurance Topics
  • sonitpur datri sewa samity's sonitpur datri sewa samity Topics
  • indian youth manch's indian youth manch Topics
  • HUDA Co- Operative Group Housing Societies's HUDA Co- Operative Group Housing Societies Topics
  • youth's youth Topics
  • aastha's aastha Topics
  • RTI for Citizens's RTI for Citizens Topics
  • ALL PUBLIC INFORMATION OFFICERS OF INDIA's ALL PUBLIC INFORMATION OFFICERS OF INDIA Topics
  • learn always's learn always Topics
  • R.T.I.'s R.T.I. Topics
  • Karnataka Karmika Kalyana Prathishtana's Karnataka Karmika Kalyana Prathishtana Topics
  • Akhil Bhart anti corruption sangathna's Akhil Bhart anti corruption sangathna Topics
  • MBA, business and new entrepreneur.....'s MBA, business and new entrepreneur..... Topics
  • students seeking help's students seeking help Topics
  • UN-DO CORRUPTION's UN-DO CORRUPTION Topics
  • RTI Corporate's RTI Corporate Topics
  • Electrical group's Electrical group Topics
  • V4LRights's V4LRights Topics
  • Pirated software in GOvt oofice and sc hool's Pirated software in GOvt oofice and sc hool Topics
  • Gaming's Gaming Topics
  • WE Born to help's WE Born to help Topics
  • help the elderly citizen's help the elderly citizen Topics
  • NATIONAL ISSUE's NATIONAL ISSUE Topics
  • Ballygunge Government Hogh School Alumni Association's Ballygunge Government Hogh School Alumni Association Topics
  • Corruption free Country's Corruption free Country Topics
  • surajyam's surajyam Topics
  • kanpurvictims's kanpurvictims Topics
  • Railway Group A Services's Railway Group A Services Topics
  • RTI BALLIA's RTI BALLIA Topics
  • Encroachment of public property by private giants's Encroachment of public property by private giants Topics
  • Case Status - Anti Corruption's Case Status - Anti Corruption Topics
  • RTI ACTIVISTS FROM MEERUT's RTI ACTIVISTS FROM MEERUT Topics
  • Aam Aadmi (The Common Man)'s Aam Aadmi (The Common Man) Topics
  • Court Marriage in Punjab's Court Marriage in Punjab Topics
  • ALL's ALL Topics
  • Youth India Social Group (YISG)'s Youth India Social Group (YISG) Topics
  • ye kya fandda h's ye kya fandda h Topics
  • mindset's mindset Topics
  • anti corruption's anti corruption Topics
  • activism's activism Topics
  • common's common Topics
  • state group's state group Topics
  • social help group's social help group Topics
  • landlords of uttar pradesh's landlords of uttar pradesh Topics
  • Concern Citizens Forum for India's Concern Citizens Forum for India Topics
  • edusystem's edusystem Topics
  • Ratna Jyoti's Ratna Jyoti Topics
  • development in indian village's development in indian village Topics
  • technovision's technovision Topics
  • Mighty India's Mighty India Topics
  • Against Corporate Fraud's Against Corporate Fraud Topics
  • Stop crime's Stop crime Topics
  • PUBLIC INTEREST LITIGATION.'s PUBLIC INTEREST LITIGATION. Topics
  • NVS - Navodaya Vidyalaya Samiti's NVS - Navodaya Vidyalaya Samiti Topics
  • Authenticated Public Plateform's Authenticated Public Plateform Topics
  • shalin's shalin Topics
  • terminater's terminater Topics
  • RTI Wind Energy's RTI Wind Energy Topics
  • AMICE (INDIA)'s AMICE (INDIA) Topics
  • HELPING HAND !'s HELPING HAND ! Topics
  • Go..................?'s Go..................? Topics
  • Co-Op Housing Society's Co-Op Housing Society Topics
  • we are equal's we are equal Topics
  • Phoenix Deals's Phoenix Deals Topics
  • AHMEDABAD ACTIVISTS's AHMEDABAD ACTIVISTS Topics
  • Theft Cases in chandigarh's Theft Cases in chandigarh Topics
  • Economically Weaker Section Certificate & Benifits's Economically Weaker Section Certificate & Benifits Topics
  • Solar Systems's Solar Systems Topics
  • Get aware about ur Education and related rights's Get aware about ur Education and related rights Topics
  • Save Mumbai's Save Mumbai Topics
  • Complaints to MCD & Delhi Jal Board's Complaints to MCD & Delhi Jal Board Topics
  • ashayen's ashayen Topics
  • unemployment's unemployment Topics
  • Employee Solution's Employee Solution Topics
  • is kanpur university against sc/st's is kanpur university against sc/st Topics
  • URBAN PLANNER PROFESSIONAL's URBAN PLANNER PROFESSIONAL Topics
  • RTI HELP INDIA's RTI HELP INDIA Topics
  • prayatna's prayatna Topics
  • Parking woes's Parking woes Topics
  • Helping RTI INDIA web development's Helping RTI INDIA web development Topics

Categories

  • Uncategorized
  • Section 18 (1)
  • Section 11
  • For Common Man
  • Section 16
  • Section 2(h)
  • Section 8 (1)(j)
  • Simplified RTI
  • Government Employee and RTI
  • RTI Act 2005
  • Success Stories
  • Exempt Organisation
  • DG IT
  • Section 8 (1) (e)
  • Section 2 (h) (d) (i)
  • Supreme Court Decisions
  • Section 2 (j) (i)
  • Section 2
  • Section 8
  • Section 20
  • Section 19
  • SIC Punjab
  • High Court Decisions
  • Section 9
  • Section 24
  • DoPT
  • RTI Awareness
  • Section 6 (3)
  • Section 6
  • Section 2 (f)
  • Opinion
  • Department of Posts
  • Ministry of Railways
  • Departments
  • Ministry of Home Affairs
  • Ministry of Corporate Affairs
  • Ministry of Law & Justice
  • Government of NCT of Delhi
  • Delhi Police
  • Ministry of Human Resource Development
  • Staff Selection Commission
  • Court Decisions
  • CIC Decisions
  • Activism
  • Section 25
  • University
  • Section 7
  • Ministry of Agriculture
  • Section 3
  • RTI Discussions
  • Section 19 (8) (b)
  • BSNL & MTNL
  • Section (1) (d)
  • Section 8 (1) (d)
  • DIrectorate of Education
  • Govt of NCT of Delhi
  • Cooperative Housing Society
  • RTI for School
  • Member RTI
  • Municipal Corporation
  • Ministry of Defence

Categories

  • RTI Act

Categories

  • News

Categories

  • Quotes

Categories

  • RTI Videos

Categories

  • RTI Directory
  • Important RTI Decisions
  • Other Important Court Decisions
  • Sample RTI
  • Acts & Circulars

Blogs

There are no results to display.

There are no results to display.

Calendars

There are no results to display.

There are no results to display.


Find results in...

Find results that contain...


Date Created

  • Start

    End


Last Updated

  • Start

    End


Filter by number of...

Found 138 results

  1. On 28 January 2008, the CIC asked IBA to study the matter and establish if IBA is a Public Authority as defined in the RTI Act 2005. Full decision of the CIC is attached. Decision_28012008_06.pdf
  2. The Bank has admitted that the loan has become an NPA and the company has not yet repaid the loan availed by it. In this matter a large amount of public fund has been advanced by the bank to M/s Hanung Toys & Textiles Ltd. The company has defaulted in repayment and the loan has become NPA, therefore, the matter is of larger public interest. The Commission directed the respondent to provide certified copy of the proposal of credit sanction to M/s Hanung Toys and Textiles Ltd., after severing the personal information relating to the promoters, group or company as well as regarding the company's products, technical know-how, etc., to the appellant. 2018-02-10-162633416.pdf
  3. HI All, I want to know the role of registered bequeath(wasiyat) in case of bank account if bank account holder itself has been expired by the help of RTI. Actually my father has been expired and there is left one bank account tht does not have added any nominee and bank itself has been locked(dealth lock) in tht account,but he has left registered bequeath(wasiyat) in my favour. Now, i want to withdraw tht money .So, is there any way tht registered bequeath will help me to withdraw tht money without any issue. So. Is there any illegal rule to show that bequeath as a proof to bank to resolve tht issue or RTI will help me to know that it is correct or not. Please guide me.
  4. Dear Sir/Madam, I wish to know that is there any provision by RBI to charge customer for their own account closure. I just has closed an account from SBI Bhavangar, Gujarat Sardarnagar Branch. I have filled up a form to close the account in which the charge was not mentioned and only charge applicable instruction was there. So I thought that the charge may be 20-25 Rs. for which I was ready. But the bank has debited the amount of Rs. 500 + 18% GST from the account which was really shocking. I request you to give information whether there is any such guideline by RBI for such closure charge by Bank or not. If there its Ok but if not there how bank can charge so high charges for my own account closure due to their poor service. In addition, there was no feedback space on which I can mention the reason why I want to close the account. Means bank was interested in only debiting the account closure charges. I request your kind help by providing the information. Best Regards, Janak Bhatt DELETED mobile number - not allowed to post on the forum
  5. Hello, Can anyone Suggest me any remedy to get rid from bundles of letters sended by RTI asking informations regarding my bank information? It becomes inconvenient to give such answers. Is this a misuse of RTI Act? Giving answers to every letter isnt mean of inviting thieves & dacoits in my home. What can i do in such case??
  6. I was trying (unsuccessfully) to get my bank - State Bank of Mysore - to implement sec 4 of the RTI Act. I gave up after a DO in the CIC (instead of a Commissioner himself) responded to my Complaint with the following letter: http://dsscic.nic.in/cause-list-report-web/download?filename=MjAxNy0wNS0wNi0xMTIxMTIxMDAwMi5wZGY%3D Recently six State Banks were merged with SBI and I decided to have a look at the Sec 4 disclosure of Indias largest Bank (owned by you and me !). Have a look at their website's RTI page: https://www.sbi.co.in/portal/web/corporate-governance/right-to-information-act-2005 Have a hearty laugh.
  7. Hi all, Can I get the details of a bank loan defaulter through RTI?
  8. Exactly one year ago, an amount of Rs.18500/- was withdrawn from ATM of State Bank of Mysore [sBM] at Belapur near Mumbai, while my friend was having his SBI [state bank of India] ATM card at Junagadh [nearly 700 kms away]. He got SMS for debit. A complaint and claim was lodged with branch of SBI at Junagadh. In addition RTI was filed with SBM for CCTV footage which they supplied through SBI along with reports generated by ATM system.SBI first treated this as ATM failed transaction [where account is debited and no money dispensed by ATM] and declared that their system shows that transaction was successful. We insisted that this is a case of fraud of card cloning and skimming of PIN. SBI accepted it later on. We supported our claim with information received under RTI Act from SBM and also SBI. In August 2014 SBI agreed to reimburse amount but processing and sanction of claim was inordinately delayed at LHO Ahmedabad. Again RTIs were filed to dig out status and manual extract for ATMs etc. Based on this we lodged detailed complaint to Corporate Center at Mumbai. It did not work for a month and hence on 13-04-2015 email was sent to CMD of SBI with relevant details. On 17-04-2015 bank refunded the amount. As per SBI manual, such claims should have been settled in 33 days from date of complaint but was delayed for one year!!! However, we shall be claiming compensation, interest and expenses shortly through administrative channel as per compensation policy of banks and ensure that accountability for unexplained delay is fixed on officers.In last one year 7 RTI applications and 3 first appeals were filed with SBM and SBI.Right from branch head to AGM Junagadh to GM/CGM LHO Ahmedabad, DGM Corporate Center Mumbai and ultimately CMD had to be sensitized for such a small claim. I do not know what this bank will do with poor illiterate villagers when they will use ATMs under Jan Dhan Yojana of Hon’ble Prime Minister. We shall be submitting details of this case to PMO to ensure that villagers are not harassed by banks at least under PMJDY.17-04-2015
  9. d s agrawal

    sms charges by banks

    Hello, all the banks are charging Rs.5/-per month per a/c for sms service charges, can i raise rti for it
  10. The Reserve Bank is very mindful of the impact of adopting global policies in the country’s banking sector, according to a top official. In the recent past, adopting international capital and liquidity standards have been preceded by detailed quantitative impact studies. The RBI explicitly presents its assessment on the global developments and external sector risks and challenged associated with globalisation, in its monetary policy announcements. These were conveyed to RTI activist S Dheenadhayalan who had written to the Prime Minister raising a number of issues concerning the functioning of the country’s banking system.Read more at; RBI tracking impact of global policies on banks, says official | Business Line
  11. Hello, Respected sir, Using r.t.i. i want to know about the list of bhartiya and non bhartiya banks in Bharat desh. who is the concerened P.I.O. Please guide. Thanks.
  12. TOI has copies of some cheques bearing Indian calendar dates that were not honoured by PSU banks. Information sought from RBI through Right to Information (RTI) query filed by city-based activist Abhay Kolarkar clarifies that all nationalized banks should accept cheques drawn and signed in Hindi without any additional formality. RBI had issued a circular on July 31, 1992, directing the banks to accept cheques having national calendar dates. The bank governing body stated there was no prohibition under any central act to use any date other than the British calendar dates. "The relevance of putting a date on the cheque is to ascertain whether the cheque is current or stale. A cheque written in Hindi and bearing a date in Hindi as per national calendar is valid and ought to be accepted by the banker," said the circular. Read at: You can put national calendar dates on cheques, but banks don?t know - The Times of India
  13. Your money may not be safe in the bank, and not because of macro reasons beyond control. Cheating and forgery have led to public and private sector banks losing as much as Rs.27,000 crore cumulatively in the last five years, reveals information obtained by dna under the Right to Information (RTI) Act. Read at: Banks no safe havens for your money | Latest News & Updates at Daily News & Analysis
  14. By Douglas Gillison If only Hillary Clinton had been president of the World Bank and not chief of US diplomacy. The former Secretary of State now says she wants the world to see her emails. This, to fend off a new controversy in which reporters, researchers, archivists, political adversaries and posterity itself might have been denied access to her official communications — which she apparently stored on a private server somewhere in her suburban mansion in New York. But the emails of Jim Yong Kim, Robert Zoellick, Paul Wolfowitz and other World Bank presidents cannot be subpoenaed by Congressional investigators or requisitioned by investigative reporters under any freedom of information law. That is because the World Bank categorically refuses to release internal communications of any of its executives or staff. More read at; Freedom of Information: The World Bank Lags Behind Many Member States
  15. sir, i had filed a complaint a month ago with a nationalized bank in regards to a very rude behaviour of one of its cashier ..it was so unacceptable and evident to the extent that the official seem to have behaved that way with most of them.. i had not received any reply from the bank manager on this yet or on the details of any action taken yet..i could very much make it out that even the manager is very much not pleased with the behaviour of that official and he seemed helpless..now,if i had to file a RTI in this regard with the nodal officer or with their head office requesting details on this complaint..what should be my point look like..i dont want to see my RTI get rejected under the pretext of this not being serving any public interest.....so am thinking of writing my RTI with points like requesting information on the details of action take, details of trainings undergone by this official in handling customers, etc etc. but really looking for some guidance on what should be my RTI point like that will teach these kind of a official a lesson from their higher managers..
  16. Over 3.70 lakh complaints have been received by bank ombudsman during last 5 years, reveales a RTI Act response. Read more at; 3.7 lakh complaints against banks in five years, revelas RTI response | Latest News & Updates at Daily News & Analysis
  17. Over 3.70 lakh complaints against banks in 5 years New Delhi, Mar 15 (PTI) Over 3.70 lakh complaints have been received by the banking ombudsman during last five years with highest number of complaints, 1.02 lakh, against State Bank of India, reveals an RTI response. The data received shows that 3,70,543 complaints have been received by 15 banking ombudsman during 2009-10 to 2013-14. Read More: fullstory
  18. Status of RTI in India - a paper by ex IC Mr Shailesh Gandhi Attached is a paper presented by ex IC Mr Shaileh Gandhi to the World Bank. It highlights the background and present status of the working of the Act in India. State of RTI WB report.docx
  19. The Competition Commission of India (CCI) is investigating if banks have been acting as a cartel in fixing lending rates in recent times. The competition regulator confirmed this in response to an RTI query furnished by activist S Dheenadhayalan. Read at: CCI probing case of banks ?fixing? lending rates | Business Line
  20. Hello, Is any state or central government banned to use clay bricks in India?
  21. According to the Reserve Bank of India (RBI), its non-performing assets of nationalized banks has swelled from Rs9,190 crore in 2011-12 to Rs2,16,739 crore in 2013-14. The statistics were provided by the RBI to former journalist Ketan Tirodkar under the Right to Information Act (RTI). Tirodkar has filed a public interest litigation in the Bombay high court seeking that the Central Bureau of Investigation (CBI) be directed to conduct a probe in the NPA scams. Read at: Nationalised banks' non-performing assets shoot up to R2,16,739 crore | Latest News & Updates at Daily News & Analysis
  22. The CIC has ruled that CCTV footage of inside bank premises is disclosable where the applicant is present in the video. The two orders of the CIC are attached to this post. order 1.PDF order.PDF
  23. As per the media news ,Hyderabad , ANDHRA BANK STAFF HAVE STAGED DHARNA IN FRONT OF SEVERAL LOAN DEFAULTERS REQUESTING THEM TO CLEAR THEIR DUES AS THE BANK IS INCURRING LOSSES. This is a novel method of forcing the defaulters to pay their dues unlike private banks who send recovery agents with muscles to threaten, if this method works all other nationalised banks can adopt this to recover more than one lakh crores which are the dues mostly from the influential persons who have taken loans in the name of business and starting industries and mostly avoid payments since they know the property which they have shown as surity will be worthless and even if the bank uses Securitisation act nothing will happen to them. let us hope the public money will be recovered from the defaulters.
  24. Hello, A Nationalised bank CPIO has taken stand that DoPT No 1/6/2011-IR dt 15-4-2013 is not applicable since it is only marked to Ministrues /department of Govt of India and not to Banks.. If any body can give me decisions of CIC/High courts in this regard.
  25. By Preeti Kulkarni in Economictimes.indiatimes.com on 15 Dec, 2014 RBI releases charter giving more rights to bank customers - The Economic Times Has your bank been unfair to you or made you invest in an unsuitable product? You can now take the bank to task. The RBI has released a charter of customer rights that lays down five basic rights that bank customers enjoy. Though a framework laying down service standards already exists, industry-watchers feel a direct intervention from the RBI could make the process more robust. "This will also simplify the process for laypersons. Customers can flash this charter and demand that the rights be met," says certified financial planner Harshvardhan Roongta, CEO, Roongta Securities. The central bank has also advised the Indian Banks Association (IBA) and the Banking Codes and Standards Board of India (BCSBI) to formulate a 'Model Customer Rights Policy' based on the charter's principles. In case a bank violates any of the rights as laid down by RBI, customers can approach the customer services division of the apex bank. "With this charter, the RBI will have legislative powers to act against errant banks," says a retired head of a large public sector bank. Here are the rights of customers as notified by the RBI. Right to Fair Treatment This right prohibits banks from discriminating on grounds of gender, age, religion, caste and physical ability while offering products and services. Banks can continue to offer differential rates of interest or products to customers. "The financial services provider may, however, have certain special products which are designed for members of a target market group or may use defensible, commercially acceptable economic rationale for discriminating between customers," the central bank had clarified. Right to Fair & Honest Dealing You can expect documents and language used to be simplified and more transparent. The charter requires banks to ensure that all contracts are transparent and easily understood by the common person. The onus of sending out effective communication in a simple language will rest with banks. Also, information on the product's price, customer's responsibilities and, most importantly, key risks will have to be disclosed upfront. The charter, through this right, will also protect you against unfair business practices and harassment. Right to Suitability Despite several regulations, complaints related to mis-selling continue to plague the distribution space, particularly in case of life insurance-cum-investment policies. Lured by higher commissions, sales officials tend to push products without ascertaining their suitability for the customer. With this charter coming into force, such officials might find it difficult to palm off, say, market-linked insurance products to senior citizens who are looking for stable returns. Right to Privacy Banksare duty-bound to keep customers' personal information confidential, unless the disclosure is required by law or customers have given their consent. "Customers have the right to protection from all kinds of communications, electronic or otherwise, which infringe upon their privacy," the charter states. Banks cannot pass on your details to telemarketing companies or for cross-selling. "There have been instances where bank officials, on the basis of transaction details, have asked customers to route their investments through them. This is not ethical," says Roongta. Right to Redressal & Compensation The right to grievance redressal will come to your aid if your bank fails to adhere to basic norms. The charter makes banks accountable for their own products as well as those of third parties. They will no longer be able to wash their hands off the responsibility once the product is sold. As per the charter, banks will also have to communicate the policy for compensating mistakes on their part, lapses in conduct and non-performance or delays in performance. The redressal and compensation policy will have to clearly state the rights and duties of the customer when such events occur.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use & Privacy Policy